UNDERSTANDING THE DIFFERENCE BETWEEN CONDO INSURANCE AND CO-OP INSURANCE

Let’s take a look at how condo and co-op insurance in NYC works, how it relates to association policy, and the responsibilities required of you in the event of a claim. Since most basic buildings operated as condominiums and co-ops in New York are already insured on the condo or homeowner association policy, most people think everything is covered and refuse to purchase an individual policy.